IL&FS, NHAI may reach out-of-court settlement on select highway projects

Once cleared, these projects can be monetised

Infrastructure Leasing & Financial Services (IL&FS) and the National Highways Authority of India (NHAI) might opt for an out-of-court settlement in a couple of highway projects where the crisis-hit firm moved court, challenging the arbitration amount. 

IL&FS has argued that the amount finalised by the arbitration panel was on the lower side. On the other hand, the Ministry of Road Transport and Highways and the NHAI have taken the debt-laden company to court in some cases over high arbitration claims.

“As far as the out-of-court settlement of arbitration cases is concerned, only two such cases where IL&FS went to court